What a Leesburg Cybersecurity Company Plans to Do With $42.5M in Venture Funding

Leesburg-based PhishMe Inc. has landed $42.5 million in funding to help companies identify and mitigate their biggest cybersecurity threats — gullible employees.

PhishMe’s platform gives companies the ability to send simulated “phishing” attacks to their employees asking for credentials, financial information or to download something. Employees who click on these suspicious attacks are instead forwarded to training modules to help them avoid the real thing. Those employees then become more savvy in response to real attacks, and their employer’s risk goes down.

The new round builds on $15.5 million the company had raised in earlier funding. It includes original investor and private equity firm Paladin Capital Group, as well as new investor Bessemer Venture Partners.

CEO and co-founder Rohyt Belani said as cybersecurity venture funding has become more selective, the latest round for PhishMe demonstrates investor confidence in its business model, which offers annual licenses for…

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